RSI_Candle_Vol indicator with additional averaging of the resulting candles. A similar averaging is applied to dynamic overbought/oversold levels as well.
//+-----------------------------------------+
//| INDICATOR INPUT PARAMETERS |
//+-----------------------------------------+
input uint RSIPeriod=14; // indicator period
input ENUM_APPLIED_VOLUME VolumeType=VOLUME_TICK; // volume
input int HighLevel=+7; // overbought level
input int LowLevel=-7; // oversold level
input uint Gap=10; // unconsidered gap in points
input Smooth_Method MA_SMethod=MODE_T3; // Averaging method
input uint MA_Length=12; // Smoothing depth
input int MA_Phase=15; // parameter of the first smoothing,
//---- for JJMA within the range of -100 ... +100, it influences the quality of the transition process;
//---- for VIDIA it is a CMO period, for AMA it is a slow average period
input int Shift=0; // Horizontal indicator shift in bars
The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
Fig. 1. XRSI_Candle_Vol